Verisk, a global data analytics and technology provider, has successfully acquired prominent German-based InsurTech Rocket Enterprise Solutions GmbH.
The acquisition aims to bolster Verisk’s position in Europe and advance its objective of providing insurers and claims service providers with comprehensive data and technology tools to elevate the claims experience.
The deal also follows hot on the heels of Verisk’s strategic investment in Rocket in 2022, emphasising the company’s dedication to leveraging innovative InsurTech solutions.
Rocket has officially become a part of Verisk’s European claims solutions group and will be under the guidance of Michael Rodenberg, Verisk’s director of property claims solutions in Germany.
The acquisition not only marks Rocket’s integration into the data analytics provider, but also signifies an expansion of the company’s presence in Germany.
Established in 2015, the firm has rapidly grown to become a market leader in InsurTech. Specialising in digitalising claims and underwriting processes, Rocket’s innovative solutions, including Rocketform and Rocket Risk, have been widely adopted by major insurers and service providers in Germany and Austria.
Verisk’s footprint in the region now also includes Actineo, a frontrunner in the digitalisation and medical assessment of bodily injury claims, and Krug, a leading provider of motor claims solutions.
The company empowers the insurance industry by providing strategic solutions. Its focus on data-driven insights and advanced technology plays a crucial role in enhancing efficiency, improving underwriting and claims outcomes, and addressing global risks.
The specific value of the acquisition was not disclosed, and the transaction is still subject to customary closing conditions.
Hanno Kahmann, Rocket CEO, said, “Our work with the Verisk team has allowed us to further develop Rocket’s core technology platform in preparation for international expansion. Joining Verisk was a natural next step to support property claims and underwriting workflows for the global insurance marketplace.”
Samer Abou-Jaoudé, Verisk Claims Solutions Managing Director in Continental Europe, said, “Throughout our work together, we’ve seen enormous potential in Rocket’s ability to support clients’ digital transformation journeys. Rocket’s offerings and the team’s expertise are perfectly suited to enhance the digitalisation the industry needs to evolve.”
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